Europe's policy-makers are engaged in protracted discussion on whether and how to increase the size of the euro rescue funds (the EFSF and the ESM). In this Policy Brief, Daniel Gros and Thomas Mayer argue that this attention on the headline size of the EMS and EFSF is misplaced. They propose...

In the wake of the Irish no-vote on the Treaty of Lisbon, numerous scenarios are currently being debated. This paper critically assesses the legality and political feasibility of the principal proposals and then puts forward an alternative 'Plan B', which the authors believe would amply satisfy...